Residential
Residential real estate was no bright spot in 2009
(2theadvocate.com) - It was another muted year for residential real estate in Baton Rouge. With no local housing bubble to burst, the metro area was spared the kind of trouble other cities had, but with a cooling economy and tight credit, home sales lagged all year as did commercial construction.
Meanwhile, the city-parish began a $1.8 million overhaul of Baton Rouge’s comprehensive master plan this fall, a process that will continue into the new year.
A team led by John Fregonese, a Portland, Ore., planning consultant who was at the center of planning initiatives in Portland and Salt Lake City, is looking into changes that should be made to the Horizon Plan in the wake of the recent hurricanes and shifts in thinking about planning, sprawl and urban development.
HOME SALES: Realtors sold 6,608 homes through November, 4 percent fewer than the 6,879 homes during the first 11 months of 2008 in an eight-parish sales area.
CONSTRUCTION: Residential and commercial construction were down as well.
For example, there were 603 new homes built in East Baton Rouge Parish during the first 11 months of 2009, a third fewer from the 864 built during the same period in 2008.
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